727 FinancePANews October 20 news, according to Caixin, Pan Gongsheng, Governor of the People's Bank of China, said on October 19 at the 2026 Financial Street Forum Annual Meeting that according to SWIFT statistics, the RMB accounts for about 3%-4% of international payments, ranking fifth globally. If the amounts settled through CIPS and banks' internal systems are also included in the statistics, this share is broadly between 6%-7%, steadily ranking third globally. Pan Gongsheng also said that the RMB has become China's largest settlement currency for external receipts and payments and the world's second-largest trade financing currency. Next, the central bank will study the implementation of a multi-tier custody arrangement in the opening-up of the bond market, promote RMB bonds as globally eligible collateral; support the formation of an offshore RMB market architecture led by Hong Kong and developed in coordination with London, Singapore, and Dubai; and provide stable, multi-tier RMB liquidity supply to the offshore market.
Pan Gongsheng: The RMB accounts for about 6%-7% of international payments, firmly ranking third globally.
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